Morimatsu International Holdings Company Limited (HK:2155)
:2155
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Morimatsu International Holdings Company Limited
(2155)
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Rating:70Outperform
Price Target:
HK$9.50
▲(3.71% Upside)
Action:Reiterated
Date:06/06/26
The score is supported primarily by strong financial resilience (low leverage and a solid capital base) and positive price trend/momentum (above key moving averages with positive MACD). It is held back by softening operating momentum (margin compression and uneven revenue growth), volatile cash flow conversion, and a valuation that is not especially cheap given the recent fundamentals.
Positive Factors
Conservative balance sheet
Very low leverage and a materially stronger equity base improve financial resilience for a project-driven industrial firm. This durable capital structure supports bidding on large modular contracts, provides liquidity optionality during downturns, and reduces refinancing risk over the next several quarters.
Negative Factors
Volatile cash generation
Inconsistent cash conversion and a 24% free cash flow decline in 2025 create persistent execution risk for a project-based business. Volatile cash makes funding working capital and scaling fabrication capacity harder without external financing, raising vulnerability during lumpy order cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage and a materially stronger equity base improve financial resilience for a project-driven industrial firm. This durable capital structure supports bidding on large modular contracts, provides liquidity optionality during downturns, and reduces refinancing risk over the next several quarters.
Read all positive factors
Morimatsu International Holdings Company Limited (2155) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$10.90B
Dividend Yield1.57%
Average Volume (3M)5.33M
Price to Earnings (P/E)16.1
Beta (1Y)1.23
Revenue Growth0.33%
EPS Growth-23.24%
CountryHK
Employees4,347
SectorIndustrials
Sector Strength72
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)0.48
Shares Outstanding1,271,329,000
10 Day Avg. Volume3,954,504
30 Day Avg. Volume5,326,687
Financial Highlights & Ratios
PEG Ratio-1.02
Price to Book (P/B)1.89
Price to Sales (P/S)1.52
P/FCF Ratio134.95
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$10.39Price Target Upside13.46% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)0.87
Revenue Forecast (FY)HK$8.95B
Morimatsu International Holdings Company Limited Business Overview & Revenue Model
Company Description
Headquartered in Shanghai, China, and established in 1990, Morimatsu International Holdings Company Limited is a global provider of integrated solutions for process industries. The company excels in the design, manufacturing, installation, and ong...
How the Company Makes Money
The company primarily makes money by designing, fabricating, and delivering modularized process equipment and related engineered products to industrial customers on a project/contract basis. Revenue is typically generated when customers (such as E...
Morimatsu International Holdings Company Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
84
Very Positive
Cash Flow
55
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 6.95B | 6.95B | 7.36B | 6.49B | 4.28B |
| Gross Profit | 1.85B | 2.06B | 2.06B | 1.79B | 1.18B |
| EBITDA | 888.79M | 1.12B | 1.14B | 890.68M | 564.95M |
| Net Income | 599.59M | 737.24M | 844.68M | 669.27M | 381.84M |
Balance Sheet | |||||
| Total Assets | 10.13B | 8.91B | 8.93B | 7.96B | 5.70B |
| Cash, Cash Equivalents and Short-Term Investments | 3.29B | 2.99B | 2.23B | 1.62B | 1.55B |
| Total Debt | 598.18M | 295.79M | 384.33M | 467.40M | 373.88M |
| Total Liabilities | 4.27B | 3.63B | 4.54B | 5.14B | 3.69B |
| Stockholders Equity | 5.60B | 5.05B | 4.38B | 2.82B | 2.01B |
Cash Flow | |||||
| Free Cash Flow | 78.29M | 721.79M | 100.50M | 38.09M | 730.26M |
| Operating Cash Flow | 425.37M | 1.15B | 671.28M | 905.15M | 1.17B |
| Investing Cash Flow | -296.44M | -765.72M | -408.13M | -1.15B | -448.13M |
| Financing Cash Flow | 269.07M | -144.06M | 506.98M | 57.05M | 445.06M |
Morimatsu International Holdings Company Limited Technical Analysis
Negative
9.16
Price Trends
7.99
Positive
8.70
Negative
9.28
Negative
Market Momentum
0.11
Positive
47.35
Neutral
13.49
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2155, the sentiment is Negative. The current price of 9.16 is below the 20-day moving average (MA) of 9.34, above the 50-day MA of 7.99, and below the 200-day MA of 9.28, indicating a neutral trend. The MACD of 0.11 indicates Positive momentum. The RSI at 47.35 is Neutral, neither overbought nor oversold. The STOCH value of 13.49 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2155.
Morimatsu International Holdings Company Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | HK$31.44B | 8.22 | 14.66% | 3.32% | 9.96% | 7.15% | |
70 Outperform | HK$10.90B | 16.13 | 11.01% | 1.57% | 0.33% | -23.24% | |
69 Neutral | HK$9.36B | 10.03 | 8.89% | 2.50% | 12.91% | 76.99% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | HK$36.97B | 11.97 | 15.71% | 1.44% | 19.22% | 58.48% | |
61 Neutral | HK$116.99B | 87.70 | 2.38% | ― | 11.01% | 30.24% | |
45 Neutral | HK$2.67B | -0.37 | -69.18% | ― | -10.60% | ― |
* Industrials Sector Average
HK:2155
Morimatsu International Holdings Company Limited
8.57
2.79
48.27%
HK:0658
China High Speed Transmission Equipment Group Co
1.63
0.33
25.38%
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Haitian International Holdings
19.70
1.22
6.60%
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Shanghai Electric Group Company
3.82
1.09
39.93%
HK:2722
Chongqing Machinery & Electric Co. Ltd. Class H
2.54
1.46
134.53%
HK:1133
Harbin Electric Co. Ltd. Class H
16.53
10.54
175.78%
Morimatsu International Holdings Company Limited Corporate Events
Morimatsu International seals RMB12 million connected deal for slurry production system
May 28, 2026
Morimatsu International Holdings announced that its subsidiary Morimatsu Hi-Purity has entered into a connected product procurement contract with Senyart Electronic Technology, a related-party subsidiary within the Morimatsu group structure. The d...
Morimatsu Sets 2026 AGM to Approve Dividend, Board Mandates and Share Issue Authority
Apr 16, 2026
Morimatsu International Holdings Company Limited has convened its annual general meeting for 25 June 2026 in Shanghai, with an option for virtual participation for shareholders. The agenda covers routine corporate matters including adoption of the...
Morimatsu Adds Veteran Banker Kuraishi Hideaki as Independent Director to Meet HKEX Rules
Mar 23, 2026
Morimatsu International Holdings has appointed veteran banker Kuraishi Hideaki as an independent non-executive director, as well as a member of its audit and remuneration committees, effective 23 March 2026. The move brings over 35 years of intern...
Morimatsu International Details Board and Committee Structure
Mar 23, 2026
Morimatsu International Holdings Company Limited has announced the current composition of its board of directors, detailing five executive directors, one non-executive chairman and three independent non-executive directors. The disclosure clarifie...
Morimatsu Profit Slides on Margin Pressure Despite Surge in New Orders
Mar 23, 2026
Morimatsu International Holdings reported virtually flat revenue of RMB6.95 billion for 2025, but profitability declined as gross profit fell to RMB1.82 billion and gross margin narrowed to 26.1% from 29.5%. Net profit dropped to RMB584 million, r...
Morimatsu International Declares HKD 0.20 Final Dividend for 2025
Mar 23, 2026
Morimatsu International Holdings Company Limited has declared a final ordinary cash dividend of HKD 0.20 per share for the financial year ended 31 December 2025, subject to shareholders’ approval at a meeting scheduled for 25 June 2026. The ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.